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DTN Closing Livestock Comment 09/22 16:37
   Nearby Lean Hog Futures Close Ugly Week With Significant Losses

   Lean hog futures closed lower with nearby contracts suffering triple-digit
losses. The cattle complex closed substantially higher, supported by greater
packer spending in the country and technical-buying.

By John Harrington
DTN Livestock Analyst


   Moderate trade volume developed in most areas of feedlot country Friday as
producers responded to higher packer bids. Most live business in the South was
marked at $108, $2 higher. Dressed deals in the North were primarily marked at
$170, about $3.50 higher than last week's weighted average basis Nebraska. Live
business in parts of Nebraska and Iowa ranged from $108.50-$109.50, $2.50-$3.50
higher than last week's weighted average basis Nebraska. The national hog base
closed off $0.15 compared with the Prior Day settlement ($43-$50.50, weighted
average $48.70). From Friday to Friday, livestock futures scored the following
changes: Oct LC up $3.82; Dec LC up $4.60; Sep FC up $3.18; Oct FC up $5.45;
Oct LH off $5.27; Dec LH off $1.85. Corn futures closed 3 cents higher with
spillover support from the bean market. The stock market closed mixed with the
Dow off 9 and the NASDAQ up 4.
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